Renting: Marketing For New Tenants Effectively

Marina Shlomov - Monday, April 9, 2018

Renting: Marketing For New Tenants Effectively

Getting quality tenants in a timely fashion hinges upon your ability to effectively market for them. This means getting your property in front of a large number of people, and offering your rental where there is a need. How do you accomplish this? Well, this is an area that new and seasoned property managers struggle with. There are many reasons why marketing tor tenants can be bothersome. Changing technology, for instance, can cause a dilemma.

In this article, we’re going to outline some of the best tips for marketing to new tenants - effectively. We are going to show you how to market “outside the box” by demonstrating how you can go a step further to get your rental property in front of prospective new tenants effectively and efficiently.

Get on the Ball

As soon as you discover that your tenants will be moving out, start marketing. Act quickly to get your property on the market, and you will see results faster. We have a policy that gives us 60-days notice when someone wants to move out. That gives us time to start marketing the property. The goal is to have the property rented by the time your current tenant moves out.

Offer a Referral Reward

Don’t shy away from your outgoing tenant! Put your relationship to work by offering your current tenant a referral reward for recommending a friend or a colleague who signs a lease.

Network

Get the word out there by talking to everyone you know. Put it on social media, talk to you pastor, bring it up in conversations with friends. Everyone needs a place to live, and you never know who’s looking.

Market Online

Use Zillow, Trulia, Facebook and Postlests (or as now called Zillow Rental Manager), as well as other online, local channels that you can think of to market your property. Many of these channels are completely free and very effective! I want to emphasize that Postlets (owned by Zillow) will take your rental ad and will spread it to over 25 different search engines (including some of the largest ones such as Hotpads, Zillow, Trulia, Oodle and many others). Best of all, Postlets is FREE! Also, Craigslist works well for a lot of people. We have found that the quality of the leads from Craigslist is not as good as the leads coming from other search engines, but that’s just us, it might not be the case for your area and there is no cost to try.

Hire a Copywriter

If you aren’t a savvy writer, then hire someone who is. Your flyers, brochures, and ads should use enticing text to bring prospective tenants in. Your marketing copy should colorfully describe your properties features and amenities, and you can spice it up by adding information about the local area. Talk about what makes your property special. If you’re having trouble, don’t hesitate to hire a pro.

Use Signs

Ah, yes, the sign. We’re all familiar with them, and do you know why? Because they work! Use banners, yard signs, and anything else that can be used to advertise your property.

In today’s digital age, a blend of online and offline marketing works best for getting a new tenant quickly. The main concerns are time and quality. When it comes to marketing your property, time is important, but quality should be your chief concern.

In every ad you put out and in every conversation you hold, assert the quality of your property, and let people know that you are looking for a serious applicant. As long as you are consistently putting forward rich marketing strategies, you will find a great tenant. Make sure that you don’t sacrifice quality in the interim!

Putting ads out there definitely isn’t enough. By acting fast and injecting quality into every move you make, you will get your dream tenant!